Dividends for the Current Financial Year

RNS Number : 7175L

Polar Capital Global Financials Tst

04 May 2020

 

Polar Capital Global Financials Trust Plc

Legal Entity Identifier: 549300G5SWN8EP2P4U41

4 May 2020  

Dividends for the Current Financial Year

In light of the exceptional market conditions arising from the COVID-19 pandemic, the Board has been discussing the current financial year's dividends, due to be paid in August 2020 and February 2021. The Company has an income and growth mandate and the Board is aware of the importance of income to shareholders, especially at a time when many listed companies, including some in the financials sector, are cutting or suspending their dividends.

The Company has built up distributable reserves over past years which may be utilised to support dividend payments to shareholders at times when the underlying portfolio delivers lower than expected income returns. This is a unique feature of the Investment Trust structure which the Board expects will enable it to maintain the dividend for the current financial year at an equivalent level to last year. This approach will give the fund manager time to assess the structure and longer-term income capability of the portfolio in a post COVID environment and to determine the appropriate longer-term distribution level.

The Board will declare dividends in due course, with the first such declaration expected to be in July for the August payment.

Enquiries

Nick Brind / John Yakas Joint Investment Managers Polar Capital Global Financials Trust Plc Tel. [phone]	John 'Reg' Regnier-Wilson Head of Investment Trust Sales Polar Capital Tel. [phone]
Corporate: Mark Bloomfield, Alex Miller / Sales: Phil Hopkins, Jonathan Crabtree Stifel Nicolaus Europe Limited - Corporate Broker Tel. [phone]

 

END

 

 

DIVABMATMTBMBTM